Summary of financial results
(In dollars, except per share data) | THREE MONTHS ENDED | |
2020 | 2019 | |
Revenues | - | 3,144,699 |
Gross margin | - | 1,586,598 |
Net earnings (net loss) | (2,531,837) | 1,178,934 |
Net earnings (net loss) per share, basic and diluted | (0.009) | 0.005 |
(In dollars) | ||
Cash and cash equivalents | 15,809,741 | 11,274,470 |
Investments | 14,825,617 | 14,939,261 |
Total assets | 98,449,289 | 92,987,397 |
"The recently announced transaction with Yamana Gold (see press release dated
"The new company that will result from the transaction with Yamana Gold will be called
"Monarch Mining's mission will be to become a gold producer, while continuing to develop its projects with strong exploration potential. A 42,500-metre drilling program is currently under way at the Beaufor mine to increase the mine's resources with a view to resuming production and exploration is ongoing at McKenzie Break to build the resource on this very promising high-grade gold project, with results expected in the coming weeks on both projects. Furthermore, given the bull market for gold, we intend to pursue of efforts to find a partner to help us put Croinor Gold into production. The material mined from Croinor Gold and Beaufor could be processed at our fully permitted and operational Beacon mill. Overall, our plan is straightforward, and we intend to execute it to the best of our abilities to make Monarch Mining a success for our shareholders as well," concluded
The technical and scientific content of this press release has been reviewed and approved by Marc-André Lavergne,
Forward-Looking Statements
The forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause Monarch's actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this press release.
www.monarquesgold.com
View original content to download multimedia:http://www.prnewswire.com/news-releases/monarch-gold-reports-its-first-quarter-results-301172379.html
SOURCE
© Canada Newswire, source